Soybean futures held the gains for much of the Friday session, as contracts closed up 2 to 3 ½ cents across the front months. September was 14 ¼ cents higher this week, with November up 16 cents. The cmdtyView national average Cash Bean price was up 2 ¼ cents at $9.88. Soymeal futures were down a dime to $3.40 on Friday, with September up 13 ¾ cents this week. Soy Oil futures were up 120 to 146 points on the day, as September was 166 points higher since last Friday.

The EPA granted full Small Refinery Exemptions to 63 of the 175 petitions from the 2016-2024 backlog this morning, with another 77 partial exemptions granted. There were 28 petitions denied and 7 listed as ineligible.

The Friday afternoon Commitment of Traders report showed the spec fund crowd in soybean futures and options flipping to a net long of just 3 contracts as of August 19. That was a move of 35,273 contracts from the previous net short. Commercials added 28,135 contracts to their net short position as of Tuesday to 114,151 contracts. In soybean meal, specs covered 24,070 contracts from their large net short to -85,239 contracts.

Weekly Export Sales data has old crop soybean commitments at 51.058 MMT, which is 100% of the USDA export projection and lags the 103% average sales pace. New crop sales have reached 5.855 MMT, all without Chinese buying, which is down 22.4% from last year at this time.

Following the Midwest crop tour this week, ProFarmer estimated the 2025 soybean national yield at 53 bpa. Production was estimated at 4.246 billion bushels. That comes in below the 53.6 bpa and 4.292 bbu reported below USDA’s estimate last week.

Sep 25 Soybeans  closed at $10.36 1/2, up 2 cents,

Nearby Cash  was $9.88, up 2 1/4 cents,

Nov 25 Soybeans  closed at $10.58 1/2, up 2 1/2 cents,

Jan 26 Soybeans  closed at $10.77, up 3 1/4 cents,

New Crop Cash  was $9.81 1/2, up 2 1/2 cents,